Midday Report

gbpjpy28_02_2012_02

The pair's movement is still limited between the pivotal levels mentioned earlier today -128.40 and 125.65-, while we are still waiting the pair to breach one of these levels to confirm the next move. Therefore, we remain neutral, observing the daily closing today.

The trading range for today is among the major support at 125.65 and the major resistance at 130.80.

The short-term trend is to the downside as far as 150.00 remains intact targeting 112.00.

Previous Report

Weekly Report

Support127.25126.80125.65125.00124.70
Resistance128.40129.50130.00130.80131.10
RecommendationBased on the charts and explanations above we remain neutral, awaiting more confirmations